personal bankruptcies on the rise

Provisional Bankruptcy Statistics for the March quarter 2006

In fact a 20% increase compared to the December quarter 2005 and almost 12% up on the same period last year. Of concern though, Vic and NSW both registered increases of over 30%.

Is it a case of WA & QLD lead while the rest falter???

N.

 

Nigel,

If that's supposed to be a hyperlink, then it ain't working for me...

Do you have access to the full article?

Very interesting,
Michael.

 

D'oh! Hoist by my own petard!

Try this

http://www.itsa.gov.au/dir228/itsaweb.nsf/docindex/News%20&%20Events-%3EMedia%20Release%20Documents%202006/$FILE/IG%20Media%20release%20Mar%20Qtr2.pdf?OpenElement

 

Actually, while the percentage increase for NSW sounds like a lot, I was a little surprised that considering the population of NSW(Abt. 6mil), the actual number was lower than I would have expected.

Gone from 1480 to 1977. As a percentage of the State population it went from 0.02466% to 0.03295%.

Obviously a terrible situation for those involved, but hardly in epidemic proportions either.

 

Good point Alan. Stats can be tricky and even misleading, until they're broken down and looked at more carefully.

More bankruptcies to follow with 1%+ int rate rises for those investors or home buyers silly enough not to have contingency plans.